The Indian equity benchmarks are set to open on a positive on Tuesday amid mixed global cues. Nifty futures on the Singapore Exchange traded 37 points, or 0.21 per cent, higher at 17,417.5, signaling that Dalal Street was headed for a positive start on Tuesday.
Markets on Monday
Indian market on Monday ended in negative territory. NSE Nifty lost 246 points and closed at 17,312, BSE Sensex slumped 861 points and finished at 57,972. Among sectors, oil & gas and FMCG ended marginally higher while IT, banks, metals and realty indices fell the most. Mid-cap and Small-cap indices fell 0.57 per cent and 0.8 per cent respectively.
Asian markets
Major Asian stocks traded mixed at open on Tuesday following as the traders looked to claw some gains after a steep sell off in the previous session, whereas fears of inflation curbed the gains. MSCI's index of Asia-Pacific shares outside Japan was trading 0.47 per cent lower.
Japan's Nikkei jumped 0.82%, South Korea's Kospi added 0.44%, China's Shanghai retreated 0.41%, Hong Kong's Hang Seng fell 1.84%
SGX Nifty today
In early morning session, SGX Nifty is trading flat and the index is quoting 17,410, 29 points higher from its Monday close.
Global markets
On Wall Street, US stocks continue to trade lower expecting US Fed's interest rate hike after the Jackson Hole Symposium. Dow Jones went down 0.57 per cent, Nasdaq corrected 1.02 per cent, S&P 500 went down 0.67 per cent whereas Small Cap 2000 shed 0.70 per cent on Monday. The CBOE's volatility index, Wall Street's fear gauge, hit a seven-week high on Monday morning - up 7.4 points at 27.46, on mounting risk of more aggressive rate hikes from the Federal Reserve and European Central Bank.
FII DII data
Foreign institutional investors (FIIs) have net sold Rs 561.22 crore worth of shares, whereas domestic institutional investors (DIIs) have net bought Rs 144.08 crore worth of shares on August 29, as per provisional data available on the NSE.
Gold edges higher
Gold prices inched up in early Asian hours on Tuesday, as the dollar eased off a 20-year high, offsetting pressure from expectations of the U.S. Federal Reserve keeping interest rates higher for longer to combat inflation.
Rupee falls 7 paise to 79.91
The rupee on Monday depreciated 7 paise to close at 79.91 against the American dollar due to risk aversion in the global markets and a strong greenback overseas after hawkish comments from the US Federal Reserve.
Stocks in the news:
Vodafone Idea: Vodafone Idea Managing Director and CEO Ravinder Takker said the promoters of the company have invested Rs 4,940 crore and the company is in active discussion with investors for fund raise.
Lupin: The drug maker said it has received a tentative approval from the USFDA to market Dasatinib tablets, used to treat certain types of cancer, in America in strengths of 20 mg, 50 mg, 70 mg, 80 mg, 100 mg, and 140 mg.
NDTV: Adani group and NDTV's promoter entity RRPR Holding have approached Sebi, seeking clarity on the applicability of the regulator's earlier order regarding the conversion of warrants into shares, a decisive factor in the hostile takeover battle for the media group.
L&T Technology Services: The engineering services company firm has bagged a multi-million-dollar deal from BMW Group for the European premier car maker's hybrid vehicles.
